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Hanmi Pharmaceutical’s R&D staff is in medication research (Courtesy of Hanmi) South Korea’s Hanmi Pharmaceutical Co. generated sales of more than 1 trillion won ($812.3 million) from its own medicines last year on strong demand for its blockbuster high blood pressure drug Amosartan and dyslipidemia drug Rosuzet.The performance stood out as its local competitors have been growing with a focus on consignment sales of imported drugs under distribution agreements.Hanmi reported sales of 1.1 trillion won from its own drugs out of its total revenue of 1.2 trillion won last year, according to its annual report to a local financial regulator. Sales of imported medicines and others excluding its own drugs accounted for 8%, down from 13.9% five years ago.The company was the only one among the country’s top five pharmaceutical makers by revenue whose consignment sales of imported drugs made up less than 10%.WHOLESALERS OF GLOBAL DRUGMAKERSSouth Korean drugmakers have two main revenue sources – selling their own or generic drugs and consignment sales of foreign medicines under distribution agreements. Local pharmaceutical companies are often called wholesalers of global drugmakers due to their high reliance on imported medicines amid a lack of their own medication.“About 10 years ago, imported drugs accounted for 60% of the domestic ethical drug market, but they made up 80% now,” said a South Korean pharmaceutical industry source. .j-chart {font-family: 'Noto Sans KR', sans-serif; margin-top: 30px;} .j-chart-txt-div {/*margin-left: 5%;*/} .j-chart-h5 {font-size: 21px; font-weight: 600; margin-bottom: 7px; letter-spacing: -0.2px; line-height: 28px;} .j-chart-h6 {font-size: 15px; font-weight: 400; margin:-5px 0 20px 0} .j-chart-p {display: flex; justify-content: space-between;} .j-chart-p p {font-size: 13px; font-weight: 300; margin-bottom: 0!important; margin-top: 0px;} .j-chart-sub-p {display: flex; margin-left: 6%;} .j-chart-sub-p p {font-size: 14px; font-weight: 400; color: #374140; margin-bottom: 0!important; width: 50%; text-align: center; padding-bottom: 0px;} .d-pc-none {display: none!important} .d-pc-block {display: block!important} .txt-center {text-align: center; margin-top: 50px} @media screen and (max-width: 765px) { .j-chart-txt-div {margin-left: 0%;} .j-chart-p {display:block; } .j-chart-p p {margin-top: -6px;} .j-chart-h6 {margin:2px 0 20px 0} .j-chart-sub-p {margin-left: 10%;} .j-chart-sub-p p {font-size: 13px; padding-bottom: 10px;} .j-chart-h5 {font-size: 22px} .txt-center {text-align: left; margin-top: 20px} .d-pc-none {display: block!important} .d-pc-block {display: none!important} } Proportion of South Korean pharmaceutical makers’ consignment sales in total revenue Unit: %
Graphics by Jerry Lee
(Source: Financial Supervisory Service)
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